By Sipho Masondo

Port Elizabeth‘s Pier 14 Shopping Centre in North End is undergoing a R40-million upgrade to increase the total office and retail space from 26 000 square metres to 40 000m².

The expansion has so far added 8 000m², with the final phase to add another 6 000m².

Coetzee Gouws, spokesman for the Cobroel group which owns the centre, said the upgrade plan was a “coup” for the city as four national heavyweight retailers and financial giant Old Mutual would soon start trading from the downtown complex.

The upgrade was likely to be completed by the middle of next year, added Gouws.

Centre manager Sophia Steyn said the expansion supported the municipality‘s strategy to upgrade the Central Business District (CBD).

“The expansion is already paying dividends, which is apparent in the influx of new national tenants,” she said.

“Clothing retailer DFX, Shoe City and Pep Home start trading from the end of this week, while Ideals Clothing will be opening its doors at the end of October.”

In addition, Old Mutual‘s regional sales office would shortly occupy the seventh floor of the Pier 14 office tower.

Although the upgrade was taking place on the eve of the 2010 soccer World Cup, Steyn said the centre‘s vision went far beyond capitalising on its financial spin-offs.

“The soccer World Cup will undoubtedly give the area a welcome financial injection, but we need to look beyond 2010. Our aim is to set the standard for a world-class shopping experience for many years to come.”

Pep Home national project manager Marius Koch said the Pier 14 store would be its second in Nelson Mandela Bay.

“We are very excited about retailing from the new premises at Pier 14. Its opening forms part of the Pepcor group‘s larger strategy for the Eastern Cape region.”

DFX regional manager Pieter Pienaar said the group had also identified Pier 14 as the location of choice for its latest store.

“We have other stores in PE, but identified a need to serve customers in the CBD, and Pier 14 provides the perfect platform for us to reach our target market.”

Mandela Bay Development Agency chief executive Pierre Voges said the CBD upliftment strategy‘s main objective was to restore investor confidence in the area.

“Once all phases are complete, we will have achieved a collective upgrading of the CBD, not only incorporating infrastructure but also aesthetics, security and services.”

Stimulation of investor interest was already visible in many of the earmarked areas and the expansion of Pier 14 was a good example of the private sector regaining confidence in the district, he said.

Source: The Herald